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A New Tool Measures Home Buyer Demand in the DC Area

by Nena Perry-Brown

Map of where index data will cover. Click to enlarge.

A new tool that launched in the DC region today aims to offer a single measure to quantify housing demand.

Bright MLS (with consulting firm T3 Sixty) launched the Bright T3 Home Demand Index, which inputs several housing market data points to deliver a score that provides a sense of the homebuying demand in certain areas. The score factors in presale data like showing requests and appointments, home searches and views within Bright MLS, and home sales.

A snapshot of home demand in DC in March. Click to enlarge.

The index provides scores by metro area (for DC, Baltimore, and Philadelphia) and by zip code, and can also be partitioned by property type (detached house, attached house, and condo).

Scores will be spread across five levels, from high demand to limited demand. The service is available to both real estate professionals and consumers.

See other articles related to: housing demand, demand, bright mls

This article originally published at http://dc.urbanturf.com/articles/blog/a-new-tool-measures-home-buyer-demand-in-the-dc-area/18005

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